XAUUSD — Bearish Wave Toward 4,160
Gold is still moving inside a clear bearish channel after failing to break above the descending trendline. From Kelly’s view, the current chart suggests that XAUUSD remains under downside pressure, and the latest recovery may only be a short correction before another bearish Elliott Wave leg continues.
The key idea is simple: gold is trading below the FVG sell zone, and if buyers cannot reclaim this resistance, sellers may continue pushing price toward the lower support and final target area.
⟡ Market structure
Gold is currently trading around 4,283, still inside the descending channel. The short-term recovery is being capped below the 4,288–4,300 FVG sell zone, which is now the key resistance area.
The market is still forming lower highs, and price action remains weak below the trendline. If gold rejects from the sell zone again, the first downside area to watch is the strong support near 4,255–4,265.
A clean break below this support may open the next bearish move toward 4,225–4,235. If sellers keep control, the final Elliott Wave target remains around 4,155–4,165.
➤ Key levels
◌ Current price area: 4,283
◌ FVG sell zone: 4,288–4,300
◌ Short-term resistance: 4,300–4,320
◌ Strong support: 4,255–4,265
◌ Buy reaction zone: 4,225–4,235
◌ Main bearish target: 4,155–4,165
◌ Bearish invalidation: above 4,320
⌁ Elliott Wave view
The chart shows a possible bearish Elliott Wave continuation.
Wave (1) started after gold rejected from the upper channel area.
Wave (2) created a short corrective rebound into the FVG sell zone.
If price fails below 4,300, wave (3) may continue lower toward 4,225–4,235.
Wave (4) may create a small recovery from the lower reaction zone.
Wave (5) may complete the bearish structure near 4,155–4,165.
This is why Kelly is not chasing buys at the current price. The cleaner plan is to wait for price to reject the FVG sell zone or break below strong support with clear bearish momentum.
▸ Trading scenario
Preferred bearish scenario
Entry: Sell around 4,288–4,300 if price gives bearish rejection
Stop Loss: Above 4,320
Take Profit 1: 4,255–4,265
Take Profit 2: 4,225–4,235
Take Profit 3: 4,155–4,165
Alternative entry
If gold breaks below 4,255 and retests this level weakly, sellers may look for continuation toward 4,225–4,235 and then 4,155–4,165.
◌ Invalidation
The bearish view becomes weaker if gold breaks above 4,320 and holds above the descending trendline. In that case, the current bearish wave structure may be delayed, and price could attempt a stronger recovery first.
⌁ Kelly’s view
Kelly’s main view remains bearish while gold stays below the 4,288–4,300 FVG sell zone. The structure still favors selling rallies rather than chasing short-term rebounds.
If sellers defend the sell zone, gold may continue toward 4,255–4,265, then 4,225–4,235. The larger bearish target remains near 4,155–4,165 if wave (5) extends.
Do you think gold will reject from the FVG sell zone first, or break strong support directly? 
Short
GOLD - A bounce off support before falling to 4,200 ICMARKETS:XAUUSD remains under pressure from the Fed’s hawkish stance and a strengthening dollar. In the medium term, the market may maintain its bearish trend; however, this week, all attention is focused on the Fed’s rate decision and the regulator’s comments
The dollar is forming a countertrend correction but remains locally bearish. The dollar’s rise is putting additional pressure on the metals market. Gold is maintaining its bearish market structure amid the Fed’s hawkish stance, while the market is also pricing in a high probability of a rate hike. Yields at their highest levels since 2023 are reducing the attractiveness of non-yielding gold. Trump’s rhetoric, including his calls for lower rates while acknowledging uncertainty, as well as support for Warsh’s independence, have so far failed to change the overall hawkish stance.
Technically, gold could remain within the current range ahead of the news. A false breakdown of support could trigger a correction toward the liquidity zones before the downtrend resumes.
Resistance levels: 4,345, 4,389, 4,435
Support levels: 4,287, 4,230, 4,200
The market is aiming to test the 2,292–2,287 liquidity pool. As an initial reaction to the retest, the market could trigger a rebound toward the 4,345–4,389 areas of interest and liquidity, followed by another move lower toward 4,200
Best regards,
R. Linda! Short 
BTCUSD 1H — Bullish Rebound From SupportBTCUSD is showing a potential bullish reversal from the strong **$76,400–$76,700 support zone**. Price has reacted positively from this area, suggesting buyers are stepping in. A sustained move above the nearby **$77,200–$77,600 resistance** could strengthen the bullish setup and open the way toward higher levels.
**🎯 Target:** **$79,150**
**📍 Support:** $76,400–$76,700
**📈 Confirmation:** Break and hold above $77,600
**⚠️ Invalidation:** Strong breakdown below $76,400
Long
XAUUSD: Major Support Confluence & Descending Liquidity RetestTechnical Analysis
Market Structure & Trendline Retest: Gold (XAUUSD Daily) completed a major structural breakout above its long-term Descending Resistance Trendline in August, accelerating toward the $4,600 supply zone. The subsequent pull-back represents a textbook descending liquidity sweep and retest of the broken trendline acting as new dynamic support.
Support Confluence Zone ($4,179 – $4,287): Price is compressing directly into a high-confluence demand cluster formed by:The top boundary of the breached Descending Trendline (dynamic support).The primary horizontal Demand / Support Zone anchored around $4,179.05 (historical structure low).
Key Technical Levels:
Immediate Demand / Support: $4,287.38 (Current pivot area) to $4,179.05 (Major Structural Floor)
Invalidation / Lower Demand: $3,978.98 (Key swing low support)
Upside Resistance Targets: $4,543.28 (Prior Lower-High Supply Zone), $4,869.05 (Major Daily Resistance)
Execution Strategy: Monitor lower-timeframe price action for bullish confirmation signals (e.g., liquidity absorption, bullish engulfing candles, or market structure shifts) within the $4,179 – $4,230 zone before anticipating a secondary leg higher toward the $4,543 resistance.
Fundamental Context
Federal Reserve Monetary Policy: Precious metals remain heavily anchored to real yields and Federal Reserve interest rate expectations. Any dovish guidance or hints of future rate cuts lower the opportunity cost of holding non-yielding bullion, fueling upside momentum.
Central Bank Accumulation & ETF Flows: Institutional central bank reserve allocation and steady gold ETF inflows continue to provide structural underlying demand, keeping price dips well-bid near key support levels.
Macro Risk & Safe-Haven Flows: Global geopolitical tensions and sovereign debt expansions sustain a consistent floor of safe-haven hedging across key financial markets.
Disclaimer: This analysis is strictly for educational and informational purposes and does not constitute financial, investment, or trading advice. Always conduct independent research, implement strict risk management, and utilize proper position sizing. XAUUSD — Bearish Channel Toward 4,175
Gold is still moving inside a clear bearish channel after failing to reclaim the upper resistance trendline. From Kelly’s view, the chart suggests that XAUUSD remains under downside pressure, and the current recovery may only be a short correction before the next bearish wave continues.
The key idea is simple: gold is trading near the sell zone, and if buyers fail to break above this area, sellers may push price back toward lower support and the final target zone.
⟡ Market structure
Gold is currently trading around 4,333, right below the short-term sell zone near 4,335–4,350. This area is important because it sits close to the descending trendline and may act as the next rejection zone.
The broader structure is still bearish. Price is forming lower highs inside the downtrend channel, while each recovery remains limited under resistance. If gold rejects from the current sell zone, the first downside area to watch is the strong support zone around 4,285–4,300.
A clean break below this support may open the next move toward the 4,235–4,245 buy scalping area. If bearish momentum continues, the final target remains near 4,170–4,180.
➤ Key levels
◌ Current price area: 4,333
◌ Sell zone: 4,335–4,350
◌ Strong support: 4,285–4,300
◌ Buy scalping zone: 4,235–4,245
◌ Main bearish target: 4,170–4,180
◌ Bearish invalidation: above 4,360–4,380
⌁ Elliott Wave view
The chart shows a possible bearish Elliott Wave continuation.
Wave (1) may have started after price rejected from the upper channel area.
Wave (2) created a corrective rebound but failed below the downtrend resistance.
Wave (3) may now continue lower toward 4,235–4,245.
Wave (4) could create a short recovery from the buy scalping area.
Wave (5) may complete the bearish structure near 4,170–4,180.
This is why Kelly is not chasing buys at the current price. The cleaner plan is to watch the sell zone and wait for bearish confirmation before following the next downside leg.
▸ Trading scenario
Preferred bearish scenario
Entry: Sell around 4,335–4,350 if price gives bearish rejection
Stop Loss: Above 4,380
Take Profit 1: 4,285–4,300
Take Profit 2: 4,235–4,245
Take Profit 3: 4,170–4,180
Alternative entry
If gold breaks below 4,285 and retests it weakly, sellers may look for continuation toward 4,235–4,245 and then 4,170–4,180.
◌ Invalidation
The bearish view becomes weaker if gold breaks above 4,360–4,380 and holds above the descending trendline. In that case, the current bearish wave structure may be delayed, and price could attempt a stronger recovery first.
⌁ Kelly’s view
Kelly’s main view remains bearish while gold stays below the 4,335–4,350 sell zone and the descending trendline. The market is still moving inside a downward structure, so rebounds are more likely to be watched for rejection than chased as bullish continuation.
If sellers defend the sell zone, gold may continue toward 4,285–4,300, then 4,235–4,245, with the larger target near 4,170–4,180.
Do you think gold will reject from the sell zone first, or retest strong support before the next wave lower? Short 
GOLD - A countertrend correction to 4,400 ahead of the newsICMARKETS:XAUUSD remains under pressure from a strengthening dollar and a weak fundamental backdrop. The market is making new intermediate lows within the 4,290–4,500 trading range. Key news is ahead…
The dollar is bouncing from support and returning to its bullish momentum, putting further pressure on the market. Gold is trading near its weekly lows, around $4,310, on Friday following a sharp decline triggered by hotter-than-expected PPI data and rising oil prices.
According to TD Securities, a hawkish Fed may only delay the next move higher in gold rather than trigger a deeper decline, as support remains in place from dollar debasement, central bank purchases, and ETF inflows. The market is now waiting for the key U.S. CPI report.
Drivers:
Upside: soft CPI, dollar weakness, falling yields, central bank purchases, ETF inflows.
Downside: hot CPI, hawkish Fed rhetoric, dollar strength, rising yields
Resistance levels: 4,389, 4,400, 4,435
Support levels: 4,345, 4,300, 4,287
Gold is making new lows but has yet to reach the key target. A countertrend correction is forming ahead of the upcoming news. A short squeeze around the 4,390–4,400 zone could trigger another decline toward the 4,285 liquidity zone
Best regards,
R. Linda! Short 
BITCOIN - A correction within a consolidation phaseBINANCE:BTCUSDT.P reached a new cycle high at 82,300, but still failed to reach the key target. The market remains in consolidation, within which a countertrend correction is developing
The fundamental backdrop remains unstable, but relatively favorable for the market. Against this backdrop, Bitcoin continues to consolidate within the current range. On September 15, the Senate is scheduled to hold another vote on the CLARITY Act.
The market has been range-bound between 76,400 and 81,300 for the third consecutive week. Technically, a local wedge is forming within the range, and Bitcoin could test the support cluster before attempting another move higher. The bullish structure remains intact, and during the correction, price could test the 77,000–76,400 liquidity pool
Resistance levels: 79,470, 80,500, 81,270
Support levels: 77,000, 76,390
The correction appears to be aimed at a potential liquidity hunt. The key focus remains on the support zones mentioned above. A long squeeze could become a technical catalyst for the continuation of the uptrend
Best regards,
R. Linda! Long 
Long
Long
XAUUSD — Medium-Term Bearish Wave Toward 3,836
Gold is showing a medium-term bearish Elliott Wave structure after failing to recover above the descending channel resistance. From Kelly’s view, the chart suggests that XAUUSD is still moving inside a broader downside trend, and the current rebound may only be a correction before the next bearish wave continues.
The key idea is simple: gold may retest support first, then create a short recovery, but as long as price stays below the descending trendline and resistance structure, the priority scenario remains bearish for next week.
⟡ Market structure
Gold is currently trading around 4,349, still below the main descending channel. The previous bullish trendline has already been weakened, and price is now moving under bearish pressure.
The first important level to watch is the 4,282–4,300 strong support area. If gold breaks below this zone, the next downside path may open toward 4,230, then the 4,090–4,110 Buy zone wave 4.
For the medium-term structure, if sellers continue to control the market, gold may extend lower toward the final Done wave 5 area near 3,836–3,850.
➤ Key levels
◌ Current price area: 4,349
◌ Short-term resistance: 4,360–4,390
◌ Strong support: 4,282–4,300
◌ Next downside level: 4,230
◌ Buy zone wave 4: 4,090–4,110
◌ Main bearish target: 3,836–3,850
◌ Bearish invalidation: above 4,430–4,450
⌁ Elliott Wave view
The chart is showing a possible bearish continuation structure.
Wave (1) started after price rejected from the upper zone.
Wave (2) created a corrective rebound but failed below the descending resistance.
Wave (3) may now continue lower toward 4,230 and 4,096.
Wave (4) could later create a short recovery from the lower buy zone.
Wave (5) may complete the larger bearish cycle near 3,836–3,850.
This is why Kelly does not treat the current bounce as a confirmed bullish reversal. The recovery is still under resistance, and the market needs a strong breakout above the trendline before the bearish wave count becomes weaker.
▸ Trading scenario
Preferred bearish scenario
Entry: Sell on rejection around 4,360–4,390, or after price breaks below 4,282 and retests weakly
Stop Loss: Above 4,450
Take Profit 1: 4,282–4,300
Take Profit 2: 4,230
Take Profit 3: 4,090–4,110
Take Profit 4: 3,836–3,850
Alternative scenario
If gold breaks above 4,430–4,450 and holds above the descending trendline, the bearish setup becomes weaker. In that case, price may attempt a stronger recovery before the next sell setup appears.
◌ Invalidation
The bearish view becomes weaker if gold reclaims 4,430–4,450 with strong bullish momentum. A clean hold above this zone would suggest that the current downside wave is losing strength.
⌁ Kelly’s view
Kelly’s main view for next week remains bearish while gold stays below the descending channel resistance. The structure still favors selling rebounds rather than chasing buys.
If sellers break 4,282–4,300, gold may continue toward 4,230, then 4,090–4,110. The larger Elliott Wave target remains near 3,836–3,850 if bearish momentum extends.
Do you think gold will break strong support next week, or create one more rebound before wave (5) continues lower? Short 
XAUUSD — Bullish Retest Toward 4,425
Gold is showing a short-term bullish recovery after completing the previous downside wave near the lower support area. From Kelly’s view, the current chart suggests that XAUUSD may be forming a corrective bullish structure, with price now reacting from the 4,334–4,340 buy retest support zone.
The key idea is simple: if gold holds above this support, the next recovery leg may continue toward the 4,420–4,435 strong resistance area.
⟡ Market structure
Gold recently completed a bearish 5-wave sequence and is now trying to rebuild from the lower zone. Price is trading around 4,351, slightly above the buy retest support.
The current structure looks like a possible ABC recovery. Buyers are trying to defend the 4,334–4,340 area, while the next major upside target remains the strong resistance zone near 4,420–4,435.
However, gold is still trading below the descending trendline, so the bullish setup needs confirmation. A clean move above 4,380–4,400 would strengthen the recovery and open the way toward the upper resistance.
➤ Key levels
◌ Current price area: 4,351
◌ Buy retest support: 4,334–4,340
◌ Key support: 4,300–4,315
◌ First bullish confirmation: above 4,380
◌ Main resistance: 4,420–4,435
◌ Strong breakout confirmation: above 4,435
◌ Bullish invalidation: below 4,300
⌁ Elliott Wave view
The chart suggests that the previous bearish wave may have already completed near the 4,300 area.
After that, gold started to form a short-term bullish recovery:
Wave A may be the first rebound from the low.
Wave B may be the retest into 4,334–4,340.
If this support holds, wave C may push price toward 4,420–4,435.
This is why Kelly is watching the current retest zone carefully. The bullish idea is valid only if buyers continue to defend support and price starts to break above the short-term resistance levels.
▸ Trading scenario
Preferred bullish scenario
Entry: Buy around 4,334–4,340 if price gives bullish confirmation
Stop Loss: Below 4,300
Take Profit 1: 4,380
Take Profit 2: 4,400
Take Profit 3: 4,420–4,435
Alternative entry
If gold breaks above 4,380–4,400 and retests this area as support, buyers may look for continuation toward 4,420–4,435.
◌ Invalidation
The bullish view becomes weaker if gold breaks below 4,300 and fails to recover back above the buy retest support. In that case, the recovery structure may fail and sellers could regain control.
⌁ Kelly’s view
Kelly’s main view is cautiously bullish while gold holds above 4,334–4,340. The market is showing signs of recovery, but price still needs to confirm strength above 4,380–4,400.
If buyers defend the current support, gold may continue toward 4,420–4,435, where the next key decision zone is waiting.
Do you think gold will complete wave C toward resistance, or retest the lower support one more time first? Long 
Long
Long 
GOLD - A Hunt for Liquidity Ahead of Further DeclinesICMARKETS:XAUUSD has been forming a countertrend correction since the session opened. The fundamental backdrop remains unstable, and this correction could end with another move lower
Gold remains exposed to two-sided risks ahead of the release of U.S. CPI data. The sell-the-bounce strategy remains in place, especially against the backdrop of higher-than-expected inflation in China. TD Securities expects core inflation to remain under control in August but warns of upside risks
Drivers:
Upside: weak U.S. CPI data, dollar weakness, de-escalation of the conflict.
Downside: hot CPI data, dollar strength, escalation of the conflict, hawkish Fed rhetoric
Resistance levels: 4,410, 4,435, 4,461
Support levels: 4,365, 4,287
A weaker dollar, driven by yen strength, is supporting gold. At the same time, however, gold remains under pressure from the Fed’s hawkish stance and geopolitical risks.
Technically, I expect a short squeeze around the 4,430–4,435 liquidity zone, followed by a decline toward range support at 4,365–4,287
Best regards,
R. Linda! Short 
Long
CADJPY 4H: Bullish Reversal Setup Off Key Support Zone Overview & Setup Parameters
Pair / Timeframe: CAD/JPY (4-Hour Chart)
Current Trading Price: ~111.334
Bias: Long / Bullish Reversal
Key Support Zone (Entry Zone): 110.830 – 111.330
Target Resistance (Take Profit): 113.340 – 113.500
Invalidation / Stop Loss: Below 110.500 (below major structural low)
📉 Technical Analysis
Major Support Test: CAD/JPY has retested a major horizontal support zone around 110.830–111.000, which historically held as a key structural base in late July / early August.
Trendline Breakout: Price action shows a clear breakout above a short-term descending trendline on the 4H timeframe, signaling an exhaustion of the recent downward momentum from early September.
Risk-to-Reward Dynamics: Entering near the current support zone allows for a tight stop loss placed below 110.500, offering a strong 1:3+ Risk-to-Reward ratio up to the overhead supply level near 113.340.
Key Overhead Levels:
Immediate Resistance: 113.000 – 113.340 (Prior broken support, now serving as target supply).
Major Structural Resistance: 114.800 – 115.000.
🌐 Fundamental Drivers
Crude Oil Correlation: The Canadian Dollar (CAD) remains closely tied to commodity price action, specifically West Texas Intermediate (WTI). Any rebound in global oil prices provides underlying support to CAD cross pairs.
Interest Rate Differential: Despite recent policy adjustments by the Bank of Japan (BoJ), the interest rate differential continues to favor the Canadian Dollar over the Japanese Yen, maintaining a positive carry trade sentiment on dip-buys.
Safe-Haven Sentiment: Broader market sentiment shifts directly influence Japanese Yen demand. A stabilization in market risk appetite reduces safe-haven inflows into JPY, aiding a bounce in CAD/JPY.
⚠️ Disclaimer
This trading idea is provided for informational and educational purposes only and does not constitute financial or investment advice. Foreign exchange trading involves significant risk of loss. Always exercise proper risk management, position sizing, and stop-loss placement before taking any trade positions. Tactical Risk-Off Broadens as MES Loses 7,670Tactical Risk-Off Broadens as MES Loses 7,670
Market Regime: Tactical Risk-Off / Downside Continuation
Macro Regime: Hostile Tilt
Systemic Stress: Not confirmed
Confidence: High
Wednesday confirmed that the market’s narrow repair attempt had failed.
MES lost the 7,670.50–7,682.25 support band and remained below it during the evening review. The significance was not limited to the index decline: equal weight, small caps, sectors and global equities broadly confirmed the deterioration.
A growing number of instruments have broken important trends or fallen through HVN/LVN boundaries. Several are now rejecting recovery attempts beneath those former support areas.
Breadth and Participation
Breadth provided decisive confirmation:
ADD fell to approximately –1,392.
VOLD finished near –626 million.
S5 breadth readings weakened to approximately 20.9, 37.0 and 56.9.
RSP lost 217.28, 215.32 and approximately 214.71 with weak CVD.
RTY accepted beneath its previous 2,948–2,927 support region.
YM lost its nearby HVN/LVN decision area.
XLY, XLF, KRE and XLP all showed structural deterioration.
This was not an isolated decline caused by one or two megacaps. Equal weight, small caps, cyclicals, financials, defensives and overseas markets participated.
XLP is becoming oversold, which increases the possibility of a tactical bounce. However, an oversold condition represents extension—not confirmation that the underlying structure has repaired.
Technology and Leadership
Technology remains internally divided.
AMD and MU are the clearest areas of semiconductor strength, with constructive price action and CVD. That strength has not spread consistently across the group:
SMH is holding near its primary HVN, but CVD remains weak.
NVDA is below the 226.99 region without convincing CVD support.
AVGO remains beneath its upper profile shelf.
MSFT, AMZN and GOOGL weakened around former support.
AAPL is sitting near an HVN but has not restored its upper shelf.
TSLA remains vulnerable around broken trend and profile structure.
META and ORCL are relative-strength exceptions, but leadership remains too concentrated to contradict the broader deterioration.
Semiconductors have not been completely abandoned, but they are not providing broad confirmation of a durable market repair.
Rates, Commodities and Global Markets
Treasuries added to the hostile macro backdrop.
The two-year yield was approximately unchanged to slightly lower, while five-, ten- and thirty-year yields rose. The ten-year approached 4.85% and the thirty-year moved toward 5.30%, resembling long-end or term-premium pressure rather than a sudden front-end policy shock.
TLT weakened alongside the rise in yields.
Crude near $97 adds another source of inflation and duration pressure. Gold remained comparatively stable rather than signaling an acute flight to safety.
Global equities also confirmed the broader risk-off move:
Nikkei declined approximately 1.3%.
Hang Seng declined approximately 0.9%.
DAX and Euro Stoxx broke into lower value.
FTSE declined toward a lower profile boundary.
BTC near $78,000 and ETH near $2,400 also reflected weaker speculative-risk appetite.
Volatility, Credit and Systemic Risk
VIX rose to approximately 16.47, VIX1D strengthened sharply and VX held near 18.6. Volatility RSI and CVD also improved, confirming tactical risk aversion.
However, the volatility curve remains in contango. HYG/LQD softened only marginally, and the available funding indicators did not show an acute plumbing break.
This remains an important distinction: equity risk-off is confirmed, but systemic stress is not.
Key MES Levels
Support:
7,640.00 — immediate decision level
7,565.50 — next major downside shelf
7,511.25–7,482.50 — deeper structural support
Resistance:
7,670.50–7,682.25 — first repair band and former support
7,724.25 — meaningful repair pivot
7,764.75–7,784.00 — broader bullish repair
Key MNQ Levels
Support:
29,377–29,400 — immediate balance area
29,220.75
29,158.25
29,095.25
28,635.25 — major lower shelf
Resistance:
29,482.25 — first reclaim
29,541.75 — confirmation level
29,646.75–29,657.75 — stronger bullish repair
Thursday’s Primary Question
Can MES reclaim 7,670.50–7,682.25 and MNQ recover 29,482.25–29,541.75 while RSP, RTY, semiconductors and breadth improve and volatility softens?
If so, Wednesday’s breakdown could begin repairing from an extended condition.
If MES rejects the broken 7,670 area and accepts below 7,640—particularly with RSP remaining below 214.71–215.32—the downside path toward 7,565.50 becomes increasingly relevant.
For now, the market is technically damaged and tactically risk-off, but credit and funding conditions do not support a systemic-stress call. Education 
GOLD - The market is under pressure from a bearish trend ICMARKETS:XAUUSD remains in a local bearish trend, while consolidation below the 4,435 liquidity zone is becoming a technical catalyst for further downside
The dollar is stagnating, but at the same time, it is weakening due to interventions by the Bank of Japan. Gold looks weak against this backdrop, especially given the Fed’s medium-term hawkish stance. Geopolitical risks and inflation expectations that could limit further upside remain in place. The key event of the week will be the U.S. inflation data on Friday, which will determine the next direction.
Drivers:
Upside for gold: further dollar weakness, a stronger yen, weak U.S. CPI data.
Downside for gold: dollar strength, hawkish Fed rhetoric, rising geopolitical tensions (supporting oil and the dollar), strong CPI data
Resistance levels: 4,435, 4,461, 4,490
Support levels: 4,365, 4,320, 4,290
Gold remains under pressure from a weak fundamental backdrop and the local bearish trend. A short squeeze around the liquidity zone is triggering further downside. I do not rule out a retest of local resistance before another decline toward 4,365–4,290
Best regards, R. Linda! Short 
Long
